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GKINSON: Are we getting complacent over housing starts?
It seems we're not as intimidated by 200,000 Canadian housing starts as we used to be. Canada Mortgage and Housing Corp. reported Monday that May housing starts came in at a 198,300 annualized rate, the fastest pace in seven months and considerably above economists' expectations. Starts have now averaged 197,500 over the past two months, a dramatic ...

It hasn’t been this easy to pay the interest on your mortgage in almost 25 years. Credit rating agency DBRS Inc. has been tracking our ability to pay loans since 1990 and says today we only need on average 3.7% of our household disposable income to cover the interest on those loans — the lowest percentage on the books. All this comes as Canadians continue to ramp up their mortgage debt, ...

CMHC agrees to make more mortgage information public
Canada’s largest mortgage default insurer has agreed to industry demands to make more information about its portfolio public. Canada Mortgage and Housing Corporation, a Crown Corporation that controls about 60% of the market, has released a supplemental section on its results which among other things lays out detailed information breaking ...

If you thought mortgage rates could not go any lower, you were wrong. Investors Group is rocking the mortgage world with what appears to be the deepest discount in Canadian history on a floating rate loan, offering a deal that takes an effective mortgage rate down to 1.99%.
Full article –http://tinyurl.com/l9zureb
Source: Financial Post & CREA

The Canadian Real Estate Association will be releasing April’s housing data on Thursday, and the report is expected to show that prices are strong even though sales have been lacklustre.
“Price gains remain firm in much of the country, with average prices expected to be up about 6 per cent year-over-year, steady from the prior month,” Bank of Montreal economist Benjamin Reitzes wrote ...

Canada's national housing agency expects to trim the amount of insured mortgages it's keeping on its books this year, a continuation of a multiyear trend that started in 2011. The Canada Mortgage and Housing Corporation (CMHC) said in its annual report released Monday it expects to have a total of $545 billion worth of insurance in force by the end of 2014. That's down from $557 billion for fiscal ...

Local real estate boards across the country have begun to release their sales data for the month of April, and it looks like the spring housing market is fairly strong. The full picture won't be clear until mid-month, when the Canadian Real Estate Association compiles data from real estate boards coast to coast and releases national figures. But cities like Toronto and Regina are reporting sales levels ...

Canadians can expect to enjoy relatively cheap borrowing costs for some time to come — even after the economy returns to full capacity and the Bank of Canada starts hiking interest rates, bank governor Stephen Poloz said Thursday. But the central banker doesn't think sending that message means people will go on spending sprees. Poloz says it will likely take until early 2016 before the economy ...

Canada Mortgage and Housing Corporation will no longer offer mortgage insurance on second homes, the crown corporation said on Friday. It will also discontinue selling mortgage insurance to self-employed people without third-party income validation. The new limitations mean borrowers will also no longer be able to act as co-borrowers on other applications. These changes, which will take effect on May ...

More young Canadians believe owning a home is a very good investment, according to those who responded to a new RBC home ownership survey. The poll, conducted online between Feb. 4 and 14, found 86 per cent of Canadian respondents aged 25 to 34 believed owning a house or condo is a solid investment. That’s up from 78 per cent in 2013, a year when many believed rising mortgage rates would soon ...

Members of the Ottawa Real Estate Board sold 870 residential properties in February through the Board's Multiple Listing Service® system, compared with 903 in February 2013, a decrease of 3.7 per cent. "February sales are down slightly year-over-year, despite the less than favourable weather, and possible distraction of the Olympics," says President-Elect of the Ottawa Real Estate Board, ...

Globe and Mail
Vancouver, Ottawa among top five quality-of-life cities in North America
Canadian cities dominate North America’s top-five list for quality of life in a closely watched annual survey. Vancouver is rated first among North American cities in the 2014 Mercer Quality of Living rankings, followed by Ottawa, Toronto and Montreal in second, third and fourth places, respectively. On ...

Members of the Ottawa Real Estate Board sold 589 residential properties in January through the Board's Multiple Listing Service® system, compared with 594 in January 2013. "Residential sales this January were virtually identical to January 2013. Our members sold five more freehold residential properties and 10 fewer residential condos. Statistically, the difference is less than one per cent," ...

CBC News
Extreme weather driving up home insurance costs
Home owners should prepare to pay more for property insurance as the severe weather trend that has battered the country during the past year is expected to continue. Experts say that as insurance companies are forced to pay out more policies to cover storm damage, there are likely to be increases to premiums and to the way insurance is sold. Intact ...

Canadian housing market not too hot, not too cold
Not too hot, not too cold, but ‘just right’ – the Goldilocks scenario that appears to be playing out in the Canadian housing market. Mark Chandler, head of fixed income and currency strategist at RBC Capital Markets, noted that the latest round of mortgage measures – instituted in the summer of 2012 – looks like a success ...

Canadian housing market not too hot, not too cold
Not too hot, not too cold, but ‘just right’ – the Goldilocks scenario that appears to be playing out in the Canadian housing market. Mark Chandler, head of fixed income and currency strategist at RBC Capital Markets, noted that the latest round of mortgage measures – instituted in the summer of 2012 – looks like a success ...

Canadian housing market not too hot, not too cold
Not too hot, not too cold, but ‘just right’ – the Goldilocks scenario that appears to be playing out in the Canadian housing market. Mark Chandler, head of fixed income and currency strategist at RBC Capital Markets, noted that the latest round of mortgage measures – instituted in the summer of 2012 – looks like a success ...

Canadian housing market not too hot, not too cold
Not too hot, not too cold, but ‘just right’ – the Goldilocks scenario that appears to be playing out in the Canadian housing market. Mark Chandler, head of fixed income and currency strategist at RBC Capital Markets, noted that the latest round of mortgage measures – instituted in the summer of 2012 – looks like a success ...

The snowy month of November brought with it a slower than average resale market in Ottawa. Members of the Ottawa Real Estate Board sold 891 residential properties in November through the Board's Multiple Listing Service® system, compared with 928 in November 2012, a decrease of four per cent. The five-year average for November sales is 939. "The number of residential properties sold in November, ...

Canadian homes are fairly valued. Really
Domestic housing prices have climbed 83 per cent over the past decade. For most Canadians, this is sufficient proof the residential real estate market is overvalued. But Lakehead University economics professor Livio Di Matteo argues that the increase in household income and population almost completely justify the rise in housing prices.
Full article – ...

Here are two interesting articles on the current home sales and prices in the market from the Fiancial Post and the CBC.
Financial Post
Canadian home sales drop most in a year as chances of rate hike fade
Canadian existing home sales fell 3.2% in October from the previous month, the biggest drop in more than a year, as the prospect of lower-for-longer interest rates eases pressure ...

Interesting article from the Globe and Mail
Accuracy of housing data under scrutiny
Canada's surprisingly strong real estate market is leading to heightened scrutiny of the data used to assess sales. The main source of information about residential sales and prices is the Canadian Real Estate Association, which represents more than 100,000 real estate agents across the country. On or around the 15th ...

Ottawa resale market on the up and upMembers of the Ottawa Real Estate Board sold 1,219 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,145 in August 2012, an increase of 6.5 per cent. The five-year average for August sales is 1,202."It has been one year since the Canadian Government introduced the new mortgage rules, and although the Ottawa ...

HOW TO PREVENT AND CONTROL MOLD?
Mold is a common occurrence in homes, but it can potentially cause health problems as well as damage to structures and surfaces if it is not controlled. Mold begins growing indoors when spores come in contact with wet surfaces or substances. Mold can be very difficult to remove successfully - so prevention is the key.
MOLD ...

U.S. home ownership rates have reached 18-year lows but don’t expect Canadian levels to follow anytime soon.
Home sales recovering but condo prices having trouble keeping pace
Existing home sales appear to be rebounding in Canada’s two most expensive markets with a new trend showing a widening gap between low rise home prices and condominiums in Toronto.
Continue reading.
Even ...

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